The US is betting on an electric future. With this comes new challenges and opportunities for new industries. In a unique situation, all auto companies are starting to embrace electric vehicles (EVs) and are selling them to regular homeowners. This presents EV opportunities for electrical contractors, enabling them to find new clients in this emergent market.
As more and more car companies bet on EVs, the automobile landscape is slowly changing. Each quarter, it seems that another automaker is launching a new EV. As the market shifts away from the internal combustion engine, the EV marketplace is expanding. In fact, the Big 3 out of Detroit (Volkswagen, Ford and GM) are expected to have 100 EV offerings in the next five years. This trend will continue to grow as more companies move towards electrification.
It is clear that the automotive industry is moving towards electrification:
This data shows that EVs are becoming more competitive and are a viable option for many consumers. While this does not mean that the internal combustion engine is dying, it does mean there is a new player in town that you, as an electrical contractor, should take advantage of.
When General Motors unveiled the all-electric Hummer EV in late 2020, the world noticed. GM is signaling that it intends to go full speed ahead into the production of electric vehicles. Transitioning the iconic off-road military vehicle to all-electric was a huge step, and it has been well received.
GM recently announced that it intends to go fully electric by 2035 and phase out all diesel and gas engines. This is a move that other automakers are following. In fact, Ford recently launched the Mustang Mach E, and the Ford F-150 Lightning EV will soon follow. This commitment to reduce emissions and become carbon neutral is a serious endeavor, and these big companies are putting their money where their mouths are, thus proving that EVs are not in the hypothetical future anymore. So, to stay competitive and reach a growing market, it’s time to take EV opportunities for electrical contractors more seriously.
Uber, the global ride-sharing service, also pledged to go all-electric by 2030. This a bold statement. Uber fleets are ubiquitous across much of the world. So, for the company to make such a huge pledge despite not owning any of the vehicles in the fleets themselves shows serious commitment.
It seems the push to reduce emissions and be “green” is the biggest driver behind their charge. As the EV market snowballs bigger and bigger, it is sending messages to downstream industries to get in gear and get ready for the surge of other ancillary customer needs that are rising. Enter electrical contractors.
As EVs continue to stream into the consumer market, they are creating specific opportunities for electrical contractors. Obviously, EVs need to be charged, and consumers demand convenience and ease of access. This creates a lane for eager electrical contractors to gain new customers and make more revenue from the EV charging business.
The network of charging stations is growing exponentially, and there is a need for electricians to install, repair and retrofit charging stations. Many businesses like to offer EV charging stations at their locations and parking structures too, in order to provide convenient charging ports for the growing EV population.
This means there are EV opportunities for electrical contractors to install and repair these charging units as well. Another huge market for them is the installation of at-home charging stations.
As customers bring home more EVs, they are demanding the convenience of at-home charging stations. But this convenience goes beyond just plugging the EV into a standard outlet. Instead, consumers are wanting specialized charging units that electricians need to install.
Thus, this market is opening up huge opportunities to gain new and repeat business from EV owners. Electrical contractors can still do their routine lighting retrofits or panel upgrades, but now they can stack EV charging stations on top.
Qmerit has a nationwide network of installers that you can join. This unique opportunity puts certified electrical contractors like you in contact with pre-qualified customers. This allows you to expand your business.
Qmerit has also partnered with major automakers like GM and Rivian, to name a few, which translates into more customers for the electrical contractors in the network.
In addition to pre-qualified customers, Qmerit offers the CSP program, a comprehensive education and training program that sets up electrical contractors for success. It will take you through training programs and offer top-notch business coaching services. Plus, you will receive training on new technologies within electrification that will enhance your skillset and allow you to grow your business and become a leader in the local market.
To get plugged into Qmerit’s CSP program and start making more revenue through EV opportunities for electrical contractors, reach out today.